DislikedLooks like a bearish exhaustion candle on daily. Does anyone expect a bounce here?Ignored
Don't Worry Be Happy
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DislikedLooks like a bearish exhaustion candle on daily. Does anyone expect a bounce here?Ignored
DislikedLooks like a bearish exhaustion candle on daily. Does anyone expect a bounce here?Ignored
Dislikedez0770, " I guess you can say that an asset/currency is overbought/oversold when it shoots out of an equilibrium level (range) without any real change in the fundamental picture. " As each trader embarks on his "journey" into the forex market with nothing more than youtube videos for guidance, it is easy to recognize why so many traders have difficulty achieving the level of success they hope for. When I trade, I'm not "guessing" whether anything is over bought or sold, and certainly do not hold the belief that it must be so without any change in...Ignored
So in conclusion based on my COT report, I expect the UJ to maintain its momentum and keep bearish (the reason why I am keeping bearish and staying with the momentum is because as previously mentioned in one of the replies not too long ago you can not predict when the trend is going to turn so it is best, I find to stay with the trend .
Now here is a picture of my chart
I expect there to be a retracement to a certain degree and for the bearish trend to continue over the week
DislikedUSDJPY Hammer cannot work now. It was formed at the dip bottom of bears. Just my takeIgnored
Dislikedforex, your analysis is as valid and astute as any other traders can be. The fact that you are looking at potential price moves above and below price and marking off rough levels is excellent. I too am marking off possible levels to start the week, but surely can't venture a guess as to where price will be on Wednesday! Every traders charts and data are the same. As the market opens and starts the week, the only thing I can do is watch price, see what it is doing, and make trading decisions as price moves. The markets are totally dynamic, and constantly...Ignored
DislikedHere was a similar setup on AUDJPY- strong Pin Bar. Bollinger upper and lower bands are too far. They don't work. Anyway experience will teach. {image}Ignored
Dislikedforex, your analysis is as valid and astute as any other traders can be. The fact that you are looking at potential price moves above and below price and marking off...Ignored
DislikedALERT!! possible bottom in place, or top depending if you are upside down 66.66% retracement, 32% if you can't count that high, 22% if you ate chicken for dinner, 10% for senior citizens p/o divergence, b/o dissection b/a convulsions, a/b congruence, convergence of all 6 dimensions oversold, overbought with spatial disability, too high, too low, much too much, not enough, amount exceeds all comprehension hammer, pinbar, pin head, chisel ,knife, vaccuum, scissor, screw driver, ratchet, forward thinking end of 5 impulse waves, beginning of under current,...Ignored